It’s Happening:

Automation is already Taking Jobs

Worried about your job being taking over by a robot? You probably should be. Businesses are investing in AI like never before, and jobs are already vanishing

Automation has started

In a recent survey conducted by business intelligence company GlobalData and Factor’s sister magazine Verdict AI, 20% of people said that their companies had used AI technologies to either replace an existing job or avoid the creation of new jobs in the past year.

In the past year has your company used AI technology to replace existing jobs or avoid creating new ones?

Don't Know

13%

Yes

19%

No

68%

The worst hit industries

Some industries seem to be automating at a faster rate than others, with office jobs and manufacturing apparently the worst hit. A quarter of business and professional services companies reported replacing jobs with AI, while almost a third of manufacturing companies said the same. Financial markets companies also reported higher-than average automation.

Business and Professional Services

Don't Know

17%

No

57%

Yes

26%

Manufacturing

Don't Know

14%

No

58%

Yes

28%

Financial markets

Don't Know

19%

No

52%

Yes

29%

Just the start

This is, of course, just the start of large-scale automation. The vast majority of businesses see AI as at least very important to their future, with only a tiny percentage not considering such technologies important at all. What’s more, almost two thirds of businesses are looking at investing in AI technologies, so it’s really only a matter of time before more jobs vanish in the wake of the revolution.

How important do you think AI will be for your organisation or industry in the next 5 to 10 years?

Extremely Important

Very Important

Moderately Important

Slightly Important

Not at all Important

Is your organisation considering investing in AI technologies in the future?